BHEL excluded from portfolio of world’s largest sovereign fund; Malavika Vyawahare; Hindustan Times

India – Sundarbans National Park

A power plant being built through a joint venture between India and Bangladesh could impact the fragile ecosystem of the Sundarbans and impact the health of people in the two countries, a Greenpeace report said.

Bharat Heavy Electricals Ltd, India’s largest power plant equipment manufacturer and a Maharatna company, has been blacklisted by the largest sovereign fund in the world over environmental concerns.

The company’s biggest international order, the contract to build the Rampal power plant in Bangladesh, was a liability as far as Norges Bank, the central bank of Norway, that manages the fund worth about $900 billion.

On Friday it removed BHEL from its portfolio in view of environmental concerns regarding the Rampal power plant that BHEL is building in Bangladesh.

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